Biz buzz: Swissx seeks soccer deal, Constellation ups its Canopy stake

Alki David says he is in talks with English Premier League team Everton

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Happily Everton after

Recently, Alki David announced that his CBD wellness company, Swissx, was interested in buying the naming rights for Nou Camp, the home field of Futbol Club Barcelona.

That doesn’t seem to be happening—by all indications, David hasn’t actually approached the club directly to discuss it—but that doesn’t mean the Greek billionaire has lost interest in forming partnerships with professional soccer teams.

Insider reports that David’s company is in talks with English Premier League team Everton to sponsor its shirt.

“They contacted me and have already offered designs with the whole Swissx logo in blue,” the CEO said, “which I’m not crazy about, but it will look nice.”

If this deal goes through, Insider points out, Everton “would be the first club in Premier League history to have a cannabis-based product as its shirt sponsor”.

Constellation ups Canopy stake

According to a press release issued this past Friday (May 1), U.S.-based alcoholic beverage company Constellation Brands has exercised its warrants to purchase more shares in Ontario-based cannabis company Canopy Growth. This brings Constellation’s share in Canopy up to 38.6 percent.

In December of 2019, the struggling Canopy hired Constellation’s David Klein as its new CEO, in hopes of reducing costs and turning a profit. In March, Canopy shuttered two major facilities in B.C., eliminating 500 jobs, and at the end of April, the company announced it was cutting a further 200 jobs in Canada, the U.S. and the U.K. as part of an internal restructuring of several departments.

“While global legalization of cannabis is still in its infancy, we continue to believe the long-term opportunity in this evolving market is substantial,” Bill Newlands, president and CEO of Constellation Brands, said in Friday’s news release. “Canopy is best positioned to win in the emerging cannabis space and we are confident in the strategic direction of the company under David Klein and his team.”

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